03.11.2020
The pair found support at 1.1620 amid a surge in demand for risk assets on Monday following the release of strong manufacturing data in Germany and the eurozone. In addition, the market believes that Joe Biden is likely to win, who is perceived by investors as the more convenient candidate for the financial markets.
Technical side:
The price is below the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the 50% level and indicates a weaker of growth. Stoch are growing steadily.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
Buy the pair after it breaks above 1.1660 with a probable rise to 1.1715.
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